CHICAGO, July 9, 2014 /PRNewswire/ -- CommonWealth REIT
(NYSE: CWH) announced today that it has sold its 22 million shares
of Select Income REIT (SIR) for $31.51 per share, to Government Properties Income
Trust ("GOV") and Reit Management & Research LLC ("RMR"). Total
consideration for the transaction, including accrued dividends, is
approximately $705 million.
The shares sold represent the Company's entire position in a
non-strategic, non-controlling interest in SIR. The Company will
evaluate options for the use of proceeds from the sale, including
potential debt repayments and other corporate purposes.
The transaction was made pursuant to a Stock Purchase Agreement
approved by the Company's Board of Trustees. The Agreement will be
filed with the Securities and Exchange Commission.
About CommonWealth REIT
CommonWealth REIT
(NYSE: CWH) is an internally managed and self-advised real estate
investment trust, which primarily owns office buildings located in
central business districts and suburban locations across the
country, with executive offices in Chicago, Ill.
Forward-Looking Statements
This press release may contain forward-looking statements and
information within the meaning of the federal securities laws.
These statements are based on current expectations, estimates,
projections and assumptions made by management. While CommonWealth
management believes the assumptions underlying its forward-looking
statements are reasonable, such information is inherently subject
to uncertainties and may involve certain risks. Other risks and
uncertainties are described under the heading "Risk Factors" in our
Annual Report on Form 10-K and subsequent periodic reports filed
with the Securities and Exchange Commission (SEC) and available on
our website, www.cwhreit.com. Many of these uncertainties and risks
are difficult to predict and beyond management's control.
Forward-looking statements are not guarantees of future
performance, results or events. CommonWealth assumes no obligation
to update or supplement forward-looking statements that become
untrue because of subsequent events.
Investor and Media Contact
Sarah Byrnes, CommonWealth REIT, (312)
646-2801
SOURCE CommonWealth REIT